Ripple is trading in the green at 0.53700 and it tries to get back higher after registering a minor retreat, correction. It has decreased a little to retest the immediate support levels before resuming its growth.
Technically, the crypto is still expected to increase after escaping from a symmetrical triangle and after registering a new higher high. Bitcoin decreased a little in the short term as well, a minor decline registered by Ripple, Ethereum, Litecoin, etc, was natural.
XRP/USD Upside Expected!
As you can see on the H4 chart, Ripple decreased to retest the triangle’s upside line, the Pivot Point (0.4964), and the 0.5 psychological level after its failure to stabilize above the R1 (0.5700).
Jumping and closing above 0.57 could confirm a further growth towards 0.7 psychological level or higher. XRP/USD’s failure to reach and retest the S1 (0.4433) signal an increase at least until the R1 (0.5700).
Ripple Outlook & Tips!
Buy Ripple if it jumps and stabilizes above 0.57 level. A new higher high indicates more gains. 0.7 and 0.7574 represent upside targets.
Technically, XRP/USD is expected to increase after escaping from the descending pitchfork’s body and from the symmetrical triangle.
The material has been provided by InstaForex Company – www.instaforex.com
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